T7 Dumps

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WorldatWork T7 dumps - 100% Pass Guarantee!

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Vendor: WorldatWork

Certifications: Certified Compensation Professional (CCP)

Exam Name: International Financial Reporting Standards for Compensation Professionals Exam

Exam Code: T7

Total Questions: 89 Q&As

Last Updated: Apr 15, 2024

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T7 Q&A's Detail

Exam Code: T7
Total Questions: 89

T7 Online Practice Questions and Answers

Questions 1

What is a constructive obligation?

A. When a company recognizes the expected cost of profit-sharing and bonus payments

B. When a company has no realistic alternative but to make payments

C. When a change in the company's informal practices would cause unacceptable damage to its relationship with employees

D. The required accounting entry for liabilities or accrued expenses or cash paid

Show Answer
Questions 2

The economic activities of US-based Company XYZ is divided into 12-month periods for the purpose of issuing annual reports. Which basic assumption of accounting does this practice represent?

A. Going concern

B. Monetary unit

C. Periodicity

D. Economic entity

Show Answer
Questions 3

Which of the following best defines the term "equity"?

A. The residual interest in the assets of the entity after deducting all its liabilities

B. A present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits

C. Decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to equity participants

D. Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants

Show Answer
Questions 4

Recognition of revenue when earned and the matching of expenses when incurred describes which of the following practices?

A. Business accounting

B. Cash basis accounting

C. IASB accounting

D. Accrual accounting

Show Answer
Questions 5

Employee benefits that are payable after the completion of employment are considered what kind of benefits?

A. Short-term benefits

B. Post-employment benefits

C. Termination benefits

D. Long-term benefits

Show Answer More Questions

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Success Stories

  • Deutschland
  • Red
  • Apr 23, 2024
  • Rating: 5.0 / 5.0

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  • United Kingdom
  • Carlos
  • Apr 23, 2024
  • Rating: 4.9 / 5.0

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  • Labor
  • Apr 23, 2024
  • Rating: 5.0 / 5.0

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  • Apr 20, 2024
  • Rating: 5.0 / 5.0

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  • Apr 19, 2024
  • Rating: 5.0 / 5.0

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  • Chambers
  • Apr 17, 2024
  • Rating: 5.0 / 5.0

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  • Sunday
  • Apr 17, 2024
  • Rating: 5.0 / 5.0

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  • Apr 15, 2024
  • Rating: 4.1 / 5.0

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  • Apr 15, 2024
  • Rating: 5.0 / 5.0

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